Stream of Reading (Prepare to be Forwarded) – An Archive of What I'm Reading
On Sunday, Greek PM Alexis Tsipras put his political future and, more importantly, the future of the common currency in the hands of Greek voters. It was the political equivalent of pushing one’s chips all in at the poker table and after Sunday’s referendum, Tsipras appears to have been holding a better hand than Junker,…
Earlier today, as has become a symbolic custom, Tsipras spoke to Russia’s Putin by phone. Aside for the referendum, the topic of their conversation was unknown, but both sides rushed to note that financial aid was not among the topics of discussion, which assures it was. However, with the Greek negotiations still ongoing even if,…
With the only thing that matters in the hours ahead, at least until China reopens and the Pandamonium repeats, is the sheer chaos out of Greece which now literally changes the narrative by the minute, here is a convenient timeline of everything that has happened so far this morning starting with Varoufakis’ unexpected resignation and…
LONDON Oil prices fell more than 3 percent on Monday after Greece rejected debt bailout terms and China rolled out emergency measures to support its stock markets, adding to concerns about demand at a time of global oversupply. The result of Greece’s referendum put in doubt its membership in the euro, pulling down the single…
(Recasts with new quotes, background) * German government says up to Greece to act to stay in euro * Says conditions for talks on new bailout plan not yet met * Finance ministry says Greek debt cut not on the agenda By Paul Carrel BERLIN, July 6 (Reuters) – The German government signalled a tough…
Since China’s stock markets slid by about 30% from their peak in mid-June, the government and financial firms have rushed to come up with measures to turn things around. Their efforts appeared to work today (July 6), with the key Shanghai Composite Index closing up 2.4%. Here’s a complete list of the stimulus attempts that…
German Chancellor Angela Merkel will travel to Paris on Monday for talks with French President Francois Hollande to map out the way forward for Greece after voters upended more than five years of crisis-fighting by rejecting creditors’ terms for rescue aid. The trip, announced Sunday shortly after polls closed in Greece, is “to jointly assess…
French economist Thomas Piketty found unexpected fame with his book on wealth inequality, Capital in the 21st Century, and has now turned his attentions to the situation in Greece. The country is struggling under a mountain of debt and is resisting German-led demands for more austerity in exchange for aid, culminating in a landmark referendum…
Yanis Varoufakis abruptly quit his role as Greek finance minister this morning. The announcement came within hours of a referendum in which Greeks roundly backed the position of his Syriza party. Just over 61% of voters rejected a bailout proposal from Greece’s creditors, which the outspoken Varoufakis said amounted to “terrorism” on the eve of…
Greece voted overwhelmingly against enduring more austerity in exchange for a new round of bailout funding from its creditors. With roughly 91% of the vote in more than 61% of voter cast their ballot against the deal, in a victory for Greece’s left-leaning government and a rebuke to the troubled country’s euro zone creditors. It’s…